The United States is on pace to become a net exporter of energy by the year 2022, according to new data released by the U.S. Energy Information Association. The primary cause the report says, is the continued growth of U.S. shale, oil and gas resources.
“The United States energy system continues to undergo an incredible transformation. This is most obvious when one considers that the [report] shows the United States becoming a net exporter of energy during the projection period in the Reference case and in most of the sensitivity cases as well—a very different set of expectations than we imagined even five or ten years ago,” said EIA Administrator Linda Capuano.
The study also found that economic conditions favorable to energy producers in the U.S., along with an increased focus on energy efficiency which stunts energy consumption, will also contribute to the U.S.’ growing reserves. The report also says that past 2022 most energy consumption will be sustained by renewable sources and natural gas.